The largest ever analysis of build-to-rent (BTR) homes in England shows the sector has a broad and evolving customer base similar to the wider private rented sector (PRS).
In its third year, the Who Lives in Build-to-Rent? report from the British Property Federation (BPF), Dataloft, BusinessLDN, and the UK Apartment Association (UKAA) analysed 122 schemes in England totalling over 40,000 residents in over 19,000 homes, representing over 25 per cent of total completed BTR homes in the UK.
The urban component of the data, constituting 32,716 residents and 15,274 homes across 67 schemes, was benchmarked with tenants across the wider PRS.
BTR was shown to offer the option of long secure leases, with 92 per cent of schemes offering up to three year leases, and a quarter offering leases of more than three years.
Close to a quarter (23 per cent) of BTR tenants are currently in tenancies of three years, and over half (53 per cent) of leases were renewed over the last year.
BTR provides extensive amenities alongside high quality and well-managed apartments.
It can add value with amenities sometimes included within the monthly rent. These might include costs, such as gym membership or studio passes.
For a single monthly cost, three-quarters (73 per cent) of residents can access a co-working or meeting space, suiting new ways of working.
Outdoor space is a core component of BTR, a much-coveted amenity, with 81 per cent of BTR schemes having a shared garden or roof terrace.
Nearly two-thirds (58 per cent) of residents also have access to a gym, and a third (30 per cent) fitness studios.
24-hour security, available at 69 per cent of schemes, and concierge (85 per cent of developments) and parcel storage (79 per cent) all add to the experience of living in a secure home and community.